MomentumOptionsTrading.com Weekly Wrap for 4/29/12

11:30pm (EST)

1.  Market Summary 

2.  Cirrus Logic (CRUS) – Will it Follow Apple’s Footsteps?

3.  Stratasys (SSYS) – A look at 3D Printing

4.  Earnings 

5.  Weekly Wrap Portfolio Update 

6.  Week Ahead

 (To view the charts, please log into the Members Area and go to the Weekly Wrap Premium section.  We are running a little late tonight so please give us an hour.)

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1.  Market Summary   

“This will be one of the biggest weeks as far as earnings and any negative surprises could have a ripple effect on the indexes as each one of these stocks is a key component with heavy weightings. 

Ben Bernanke has a good poker face and he will need to be strong and sturdy in his words, no matter what he says about the economy.  If he cracks and fails to mention the Fed’s “backup” plan then the market could suffer as the bulls see no QE3 relief.

The charts look bearish, and following a 3-week trading range, this could be the week that we break out of it.  To us, the upside appears more limited than the downside but the old market saying of “don’t fight the Fed” may come into play if Bernanke pulls a rabbit out of his hat.  We could see one last retest of the year highs but resistance is going to be hard to overcome and the companies reporting earnings are going to have to come in with some superb numbers.” (4/22/2012 Weekly Wrap/ Monday Morning Outlook)…

The bears came charging out of the gate to start the week after a downgrade on Spanish debt but better-than-expected earnings trumped disappointing economic news the remainder of the week as the bulls pushed the market to a 3-week high.

The Dow gained 23 points, or 0.2%, to settle at 13,228 on Friday.  The blue-chips reached a high of 13,266 on Tuesday and is a little over 30 points from setting a new 52-week high.  We mentioned the close above the 50-day MA last week was bullish and the move back above 13,200 could lead to a breakout to 13,500.  The bears are looking to force the action back below 13,000 and then 12,800.  The Dow came into the week at 13,029 and added nearly 200 points, or 1.5%, by the end of it.  Year-to-date, the blue-chips are up 1,011 points, or 8.3%.

Here was the chart work we did in early February when the Dow was just above 12,800 and our thoughts at the time:

“We were watching the drop below 12,600 to and we said to it would be important the bulls bought the dip or they faced a bear test to 12,350-12,000.  The Dow came within a stone’s throw of tripping the 52-week high of 12,876 and 13,000 is still in play.  We went on record last week and called for a run to 13,500 over the near-term and as you can see from the 10-year chart, the Dow could hit 14,000 in 2012.” (from February 5, 2012 Weekly Wrap)  

The S&P 500 added 3 points, or 0.2%, to finish at 1,403.  The index traded to a high of 1,406, but more importantly, the S&P was able to reclaim 1,400 after finishing two-tenths of a point below this level on Thursday.  This clears the way for a possible test up to 1,425 and the 52-week high of 1,422 which was hit at the beginning of the month.  If resistance sticks and the bulls cannot hold down 1,400 then there will be another test back down to 1,375- 1,350.  The S&P 500 was at 1,378 to start Monday’s session and gained 25 points, or 1.8%, by Friday’s close.  For the year, the index is up 146 points, or 11.6%.   

Here were our notes and chart work from early February with the S&P at 1,345:

“The S&P failed to clear our 1,350 top-end target which would lead the way for a run to 1,375-1,450 over the near-term.  A break above these levels could lead to our 2012 target of 1,550-1,600 for the S&P.  As you can see from the 10-year chart, a close below 1,300 would get 1,250 back into play and a possible bear market would emerge on a trip below 1,200.” (from February 5, 2012 Weekly Wrap)  

The Nasdaq advanced 19 points, or 0.6%, to close at 3,069.  Tech traded up to 3,076 and is just 65 points, or 2% away, from setting 52-week highs.  After starting the week just below its 50-day MA, the index was able to reclaim the 3,050 level on Thursday which has become a favorite playground between the bulls and bears.  There is still a chance our 3,250 target comes into play, if 3,134 is cleared, but it will take a lot of momentum.  The bears will be looking to hold the top and push things back under 3,000-2,950.  The Nasdaq was at 3,000 even to start the week and advanced 69 points, or 2.3%, for the five trading sessions.  YTD, Tech is higher by 464 points, or 17.8%.

From February with the Nasdaq at 2,905:

“Tech made it five-straight winning weeks and we have been saying the bulls had their eyes on the 52-week high of 2,887 and, if cleared, the Nasdaq would make a push to 3,000.  If the momentum continues we could see the “fluff” we have been talking about push the Nasdaq to 3,250 over the near-term.  For 2012, our price target is 3,750-4,000 for Tech.  Should the bears wake up anytime soon, they will try to get the action below 2,800-2,750.´ (from February 5, 2012 Weekly Wrap)     

The S&P Volatility Index ($VIX, 16.32, up 0.08) came into the week just below 17.50 and traded past 20 on Monday’s action before closing above just under 19.  The rest of the week was bullish which pushed the VIX to a low of 15.75 on Thursday and 15.83 on Friday.  We said last week a move above 20 would be bearish while a dip below 16 would be bullish.  The VIX can trade to the low teens on a continued rally and the chart is showing a breakout or breakdown of the 4-week trading range could be coming soon.

The Russell 2000 popped 7 points, or 0.9%, on Friday and ended at 825.  The index cleared 800 on Wednesday’s rally and went out near its high on Friday.  The 830 level has been a brick wall but if cleared, the bulls could make a run at 850-875.  The bears will target 810-800 this week.  The Russell was at 804 before Monday’s opening bell and was up 21 points, or 2.7%, for the week and is showing a gain of 85 points, or 11.4%, for the year.

Here were our thoughts on the Russell 2000 back in February with the index at 831 which still remains MAJOR resistance:

“We have talked about how the move above 750 at the beginning of the year would lead to a run at 800 and this level was cleared on Wednesday.  The index now appears set for a run at 875-900 over the near-term and for 2012, there is a chance the Russell 2000 makes a run at 1,000.  A break below 800 and then 750 would be bearish and a trend change would occur on a fall below 700.” (from February 5, 2012 Weekly Wrap)

We said the two things we were looking to take the market lower or higher last week were the Fed and earnings.  Both were bullish and we confirmed Wednesday morning the market would do a back test to resistance.

This week, the only day we are really focused on will be Friday which is when the Labor Department reports the employment numbers.  If the numbers are weak, look out below.  However, if they come in strong, the market could easily hit our near-term targets of Dow 13,500; S&P 1,450; Nasdaq 3,250.

The past month has shown an increase in jobless claims which could have an impact on overall employment when the payroll numbers are released on Friday.  We may get some clues on Wednesday with the ADP Employment report and on Thursday, the Challenger Employment figures will be released.  The number to watch for on Friday’s nonfarm payroll report will be 165,000 which is the consensus estimates.  However, the range is wide as some economists have nonfarm payrolls coming in as low as 75,000 while others have pegged numbers north of 250,000.

If the numbers come in at the high or low end, either way, it will likely establish the next TREND which is what we are looking for.  In bulls markets, call options work best.  In bear markets, we like to use put options.  Following a 4-week trading range, we should get the breakout or breakdown we have been looking for, soon.    

Futures are showing a slightly higher open as we head to press but it is early and the European markets have yet to open. Dow futures are up 12 points to 13,176 while the S&P 500 futures are higher by a point to 1,400.  Nasdaq 100 futures are showing a 3 point pop and are at 2,740.

 

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Key of Technicals Used In Following Articles

 

2.  Cirrus Logic (CRUS) – Will it Follow Apple’s Footsteps?

By Michael Bryant

Apple (AAPL, $603, down $4.70) is causing many tech companies, typically suppliers, to surge recently.  Can Cirrus Logic (CRUS, $27.87, up $0.48) follow Apple’s nearly parabolic ascent?                                                 

The $1.79 billion company based in Austin, Texas designs high-precision analog and digital signal processing components for audio and energy markets.  As a fabless semiconductor manufacturer, it does not manufacture its own silicon wafers but instead outsources it to a foundry such as Taiwan Semiconductors (TSM) and United Microelectronics (UMC) and concentrates on the design and development of the chips.  The top fabless companies by sales as of 2010 were Qualcomm (QCOM, $64.18, up $0.27), Broadcom (BRCM, $36.47, flat), Advanced Micro Devices (AMD, $7.34, down $0.12), Taiwan-based MediaTek, and Marvell Technologies (MRVL, $14.89, down $0.46).

The company offers more than 700 products and has about 1,100 issued and pending patents.  Products are divided into three categories: audio, industrial, and energy, then further broken-down based on application.

In the audio space, its products include analog-to-digital converters (ADCs), digital-to-analog converters (DACs), chips (codecs) that integrate ADCs and DACs into a single integrated circuit (IC), clock ICs, digital signal processers (DSPs), digital interface ICs, System-on-Chip (SOC), volume controls, and digital amplifiers.  Automotive applications consist of amplifiers, satellite radio systems, telematics, and multi-speaker car-audio systems.  Consumer applications include portable media players, smartphones, tablets, AVRs, DVD and blu-ray disc players, home theater systems, set-top boxes, MP3 players, gaming devices, sound cards, and digital televisions.  Professional applications include digital mixing consoles, multi-track digital recorders, and effects processors.

In the energy space, its products include high-precision analog and mixed-signal ICs for energy control, energy measurement, LED lighting controllers, and seismic devices including power amplifiers, ADCs, DACs, linear amplifiers, and filters.  Its technology allows for smooth, consistent dimming of light fixtures.  Its products are used in digital utility meters, power supplies, lighting ballasts, motor control, energy exploration, and high-power systems. 

In the industrial space, its products include power operational amplifiers, high-power pulse width modulation (PWM) amplifiers, sine wave and voltage references under the Apex Precision Power brand, delta-sigma A/D converters, embedded processors, Ethernet, infrared and echo cancellers, and operational amplifiers.

The stock surged 10.9% on Wednesday after Apple (AAPL) reported 2nd quarter results Tuesday after the bell that easily beat analyst earnings and sales expectations, selling 11.8 million iPads and 35 million iPhones.  Revenue rose 59% to $39.2 billion, with iPhone sales accounting for about half that.  Total iPhone sales increased from 17 million a year ago but fell from 37 million in the previous quarter.  International sales grew while domestic sales fell.  Total iPad sales increased from 4.7 million a year ago but fell from over 15 million in the previous quarter.  AAPL, CRUS’ largest customer, provided 63% of its current revenue, or about $69.7 million.  The company is the only supplier of audio codecs in the iPod, iPhone and iPad.

Analysts expect iPhone sales to drop or stay flat in the next two quarters ahead of the iPhone 5 launch expected later this year, which is what happened in the 4th quarter of 2011 ahead of the release of the iPhone 4s on October 13th.  The last two times Apple released a new iPhone, sales fell by about 3 million units.  In the 4th quarter, iPhone sales fell 16% from the previous quarter.  That would make a conservative estimate for next quarter’s iPhone sales being anywhere between 29 and 32 million units.

The good news is that the decline in iPhone sales would be supported by rising iPad sales.  From the 2nd quarter to 3rd quarter of last year, iPad sales increased from 4.69 to 9.25 million units, an increase of 4.56 million units or 97%.  Thus, we can estimate next quarter’s iPad sales being anywhere between 16 and 23 million units. 

Sales of iPods have been on a decline since 2008, with 2nd quarter 2012 iPod sales coming in at 7.67 million, a decline of 15.0% from the same quarter a year-ago.  Sales were 7.54 million units in the 3rd quarter of 2011, a 19% decline from the 9.02 million units sold in the previous quarter.  Thus, we can estimate that 3rd quarter iPod sales will come in at about 6.16 million units. 

Taking the total of iPod, iPad, and iPhone sales for the 3rd quarter of 2012 will be between 51.16 million and 61.16 million.  If a codec costs about $1.28, CRUS’ revenue from AAPL sales would be between $65.4 million to $78.2 million in the 3rd quarter.  Assuming AAPL sales still make about 63% of CRUS’ total revenue, the company would have 3rd quarter revenue between $81.2 and $97.1 million. 

Another way of estimating how much revenue CRUS will make from AAPL in the 3rd quarter is to use the company’s guidance and how much of that goes into CRUS.  We can assume this number would be the minimum revenue, since AAPL has a history of giving low, conservative guidance.  For the 3rd quarter of 2012, it expects revenues of approximately $34.0 billion, a decrease of 13.3%.  Taking that same percentage, CRUS revenue will come in at $95.9 million in the 3rd quarter. 

Let’s compare these numbers to the numbers CRUS released and its financial history to get a better idea of 3rd quarter revenues.  The stock surged another 18.6% on Thursday after reporting its own earnings Wednesday after the bell.  This makes it seem that the stock is already pricy, having surged over 28% in two days.  But never make a stock buy or sell on price alone. 

Cirrus Logic reported 4th quarter earnings of 36 cents a share, up 64% from a year ago and beating estimates by 2 cents, for the quarter ended March 31st. Sales rose 21% to $110.6 million, also beating analysts’ estimate of $110.1 million.  Audio sales accounted for 82%, while energy sales made up the remaining 18%.  In the prior quarter, audio sales accounted for 86%, while energy sales made up 14%.  Despite energy sales increased 19% sequentially, the CEO expects energy sales to decline in the 1st quarter.  The company is trying to diversify more away from AAPL. 

Analysts estimate that 1st quarter revenue will come in at $106.62 million, higher than our highest estimate of $97.1 million.  But historically, $106.62 million can very likely happen.  However, the company must see a surge in iPhone5 sales to reach analysts’ 2nd quarter estimate of $124.48 million.  Then again, it is possible that other revenue streams will boost results.  Other customers include Ford, Harman International, Itron, LG Electronics, Philips, Raytheon, Samsung and Sony.

 

Compared to its top publicly-traded competitors and its industry, the company looks slightly undervalued, with negatives (red) falling short of positives (green) 9 to 12.

ADI = Analog Devices      MXIM = Maxim Integrated Products     

STM = STMicroelectronics NV   TXN = Texas Instruments    Industry = Semiconductor – Specialized

Source:  Numbers calculated from Yahoo Finance and Finviz.com

The heavy insider buying is worth noticing.  Insiders must see a buying opportunity.  Plus, institutions are buying, too, which also means they see value in the shares.

This contradicts analysts’ forecasts, who believe that at $27.87, the stock is below its low target of $28.00 made by the 6 analysts recorded by Thomson/First Call.  Mean target is of $30.83, median target is $28.00, and high target is $40.00.  Using a scale of 1.0 as a strong buy and 5.0 as a sell, the average rating of the stock was 1.3, down from 1.2 a week ago.

 

Current Month

Last Month

Two Months Ago

Three Months Ago

Strong Buy

4

4

3

3

Buy

1

1

1

1

Hold

0

0

1

1

Underperform

0

0

0

0

Sell

0

0

0

0

 

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 3.  Stratasys (SSYS) – A look at 3D Printing 

This is so like Star Trek.  Okay, it’s not exactly a replicator, making anything out of nothing, but 3D printing does allow one to make almost anything.  Though the technology is still young and developing, could this be the future?  And could Stratasys (SSYS, $51.98, up $0.90) lead the way? 

The $1.11 billion manufacturer based in Eden Prairie, Minnesota builds three-dimensional (3D) printers, rapid prototyping (RP) systems, and direct digital manufacturing (DDM) systems.  Through its patented FDM (Fused Deposition Modeling) technology, the company has emerged as a leader in 3D printing, serving markets in the Americas, Europe, the Middle East, Korea, Taiwan, Japan, and China.  Its products are used in the aerospace, architecture, automotive, consumer, commercial, defense, medical, mold making, dental, and educational industries.  Its products enable engineers and designers to create physical models, tooling, jigs, fixtures, prototypes, and end use parts out of production grade thermoplastic directly from a CAD workstation. 

In mid-April, Stratasys decided to merge with privately held Israel-based Objet, creating a combined company valued at about $1.4 billion.  The deal is expected to close in the 3rd quarter and will contribute to earnings in 12 months.  Like the merger of Terra Industries with CF Industries (CF, $197.77 ,up $4.78), which we have mentioned about in past newsletters, we believe this merger will create substantial value to the company and make it one of the dominant forces in this emerging field.

However, note that CF’s shares were on a downtrend around the merger, so shares could also pullback as the merger approaches. 

Stratasys is working with Hewlett-Packard (HPQ, $24.74, down $0.13) to sell low-cost 3D printers, supposedly targeting the mainstream consumer market.  A build-it-yourself 3D printer kit can cost as little as $1,400.  One kilogram of plastic printing materials costs $79.  That’s a big change from the $10,000 systems of just three years ago. 

Stratasys releases 1st quarter earnings next week.  Earnings for the 4th quarter came in at 31 cents a share on $155 million, up dramatically from 21 cents on $33 million a year ago.  For the quarter ending March 31st, analysts estimate earnings to come in at 27 cents on $43.09 million, up from 21 cents on $34 million for the same quarter a year ago.  For the 2nd quarter, analysts estimate earnings to come in at 30 cents on $45.41 million, up from 23 cents on $30 million for the same quarter a year ago.  

 

 

Analysts also seem to think the stock will pullback.  At $51.98, the stock is way above its high target of $40.00 made by the 3 analysts recorded by Thomson/First Call.  Mean target is of $37.33, median target is $39.00, and low target is $33.00.  Using a scale of 1.0 as a strong buy and 5.0 as a sell, the average rating of the stock was 3.0, unchanged from a week ago.

 

Current Month

Last Month

Two Months Ago

Three Months Ago

Strong Buy

0

0

0

1

Buy

0

0

0

0

Hold

5

5

5

4

Underperform

0

0

0

0

Sell

0

0

0

0

If the company reports a stellar quarter though, estimates and price targets could be raised.

 

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4.  Earnings 

 

The companies in BOLD, we are looking at as possible trades and we may list call or put options on them in our Daily Newsletter.  If they become official recommendations, we sent out Trade Alerts or include them in our 9am and 1pm updates that come out during the week (Quotes are as of Friday’s close, 4/27/12)

 

 

MONDAY

Advanced Energy Industries (AEI, $12.23, down $0.02), Advent Software (ADVS, $27.16, up $0.09), Alere (ALR, $25.62, up $0.42), Alleghany (Y, $340.97, up $0.69), Alliance Holdings (AHGP, $43.78, up $0.66), Alliance Resource (ARLP, $63.33, up $0.99), American Financial (AFG, $39.19, down $0.24), Anadarko Petroleum (APC, $73.80, down $0.34), Armstrong World (AWI, $46.52, up $0.92), Boardwalk Pipeline Partners (BWP, $27.49, Flat), Campus Crest Communities (CCG, $11.59, up $0.10), Capital City Bank (CCBG, $8.49, up $0.14), CapitalSource (CSE, $6.53, Flat), Cardtronics (CATM, $26.69, up $0.41), Carrollton Bancorp (CRRB, $5.26, Flat), CBL & Associates Properties (CBL, $18.62, down $0.10), CenterState Banks (CSFL, $8.22, up $0.17), CFS Bancorp (CITZ, $5.70, up $0.25), Changyou.com Limited (CYOU, $24.15, down $0.29), Charter Financial (CHFN, $9.40, up $0.22), China Yuchai International (CYD, $14.28, down $0.02), Clifton Savings Bancorp (CSBK, $10.49, up $0.07), Cloud Peak Energy (CLD, $15.13, up $0.04), CNA Financial (CAN, $30.18, up $0.23), CNO Financial (CNO, $7.52, up $0.08), Cognex (CGNX, $39.64, down $0.64), Commercefirst Bancorp (CMFB, $14.00, Flat), Comstock Resources (CRK, $17.51, up $0.37), Cross Timbers Royalty Trust (CRT, $40.45, down $1.03), Delphi Financial Group (DFG, $45.44, up $0.01), DFC Global (DLLR, $17.91, up $0.49), Diamondrock Hospitality (DRH, $10.74, up $0.07), DSP Group (DSPG, $6.75, up $0.24), Enbridge Energy Management (EEQ, $32.35, down $0.30), Extra Space Storage (EXR, $30.48, up $0.36), Fauquier Bankshares (FBSS, $12.48, down $0.02), First Federal Bancshares of Arkansas (FFBH, $9.97, up $1.05), First Financial Holdings (FFCH, $12.04, up $0.35), Flowserve (FLS, $115.93, up $1.79), FMC (FMC, $112.09, up $1.90), Forest Oil (FST, $13.32, up $0.10), Fox Chase (FXCB, $13.41, up $0.34), General Cable (BGC, $30.41, up $1.60), German American Bancorp (GABC, $19.44, up $0.54), Gladstone Commercial (GOOD, $17.17, down $0.01), Greene County Bancorp (GCBC, $18.10, up $0.10), Greenlight Capital (GLRE, $25.08, up $0.11), Guaranty Federal (GFED, $8.24, Flat), Haemonetics (HAE, $69.13, up $0.85), Harman International (HAR, $47.30, down $1.06), Herbalife (HLF, $70.40, down $1.83), Heritage (HBOS, $11.63, down $0.10), HF Financial (HFFC, $12.30, Flat), HFF, (HF, $16.49, up $0.28), Hickory Tech (HTCO, $10.10, up $0.02), Hilltop Holdings (HTH , $7.93, up $0.06), Holly Energy (HEP, $60.36, down $0.14), Hologic (HOLX, $21.23, up $0.07), Houston Wire & Cable (HWCC, $12.84, up $0.32), Humana (HUM, $87.76, down $1.41), Icahn Enterprises (IEP, $49.20, down $0.30), Ingles Markets (IMKTA, $17.96, up $0.78), Insperity (NSP, $29.44, up $0.65), Intevac (IVAC, $8.60, up $0.34), Investors Title (ITIC, $49.12, down $0.86), Jacobs Engineering (JEC, $44.63, up $0.80), JDA Software (JDAS, $29.22, up $0.01), Kansas City Life Insurance (KCLI, $32.70, up $0.27), Kaman (KAMN, $35.30, up $0.58), Kilroy Realty (KRC, $47.67, up $0.02), Kona Grill (KONA, $6.73, up $0.03), Loews (L, $41.02, down $0.03), LPL Investment (LPLA, $36.98, up $0.05), Luminex (LMNX, $24.91, up $0.62), LyondellBasell (LYB, $45.74, up $0.21), Masco (MAS, $13.43, up $0.53), McKesson (MCK, $91.06, down $0.21), Meadowbrook Insurance (MIG, $9.00, up $0.09), Mercury General (MCY, $45.55, up $0.06), Molina Healthcare (MOH, $26.50, down $0.63), Monolithic Power (MPWR, $20.46, up $0.42), National Presto (NPK, $73.33, up $2.14), NIC (EGOV, $11.32, up $0.33), NTELOS Holdings (NTLS, $18.67, down $0.23), NuVasive (NUVA, $17.06, down $0.40), NYSE Euronext (NYX, $27.08, up $0.04), Old National (ONB, $13.07, up $0.04), PAREXEL International (PRXL, $27.42, up $0.24), PartnerRe (PRE, $69.82, up $0.26), Pathfinder Bancorp (PBHC, $9.45, Flat), Plum Creek Timber (PCL, $41.93, up $0.03), PMC-Sierra (PMCS, $7.14, down $0.12), PRGX Global (PRGX, $6.47, down $0.01), PS Business Parks (PSB, $68.70, up $0.78), Quaker Chemical (KWR, $43.27, up $0.88), QuinStreet (QNST, $10.82, up $0.18), Reinsurance Group of America (RGA, $58.44, down $0.33), Rudolph Technologies (RTEC, $10.92, up $0.03), SBA Communications (SBAC, $53.62, up $0.27), Senior Housing (SNH, $22.01, up $0.08), ServiceSource (SREV, $16.70, up $0.22), Shutterfly (SFLY, $31.66, up $0.18), Sohu.com (SOHU, $55.76, up $1.84), Sourcefire (FIRE, $51.57, up $1.96), Southern Copper (SCCO, $32.43, up $0.64), Southern National Bancorp of Virginia (SONA, $6.85, Flat), Standard Pacific (SPF, $5.17, up $0.19), State Bank Financial (STBZ, $18.03, up $0.62), Tenneco (TEN, $36.11, up $0.79), Texas Roadhouse (TXRH, $17.27, up $0.07), TGC Industries (TGE, $10.01, up $0.43), The Hanover Insurance Group (THG, $40.64, down $0.40), TriCo Bancshares (TCBK, $16.80, up $0.20), UDR (UDR, $26.48, up $0.19), UniSource Energy (UNS, $36.42, up $0.05), Universal American (UAM, $9.50, down $0.26), Vanguard Health (VHS, $9.38, UP $0.09), Veeco Instruments (VECO, $30.35, up $1.67), Waddell & Reed Financial (WDR, $32.11, up $0.18), Watsco (WSO, $74.85, up $0.90), Watson Pharmaceuticals (WPI, $76.20, up $1.79), Wausau Paper (WPP, $9.39, up $0.42), Weyco Group (WEYS, $24.49, up $0.55), WMS Industries (WMS, $24.57, up $0.19), ZOLL Medical (ZOLL, $93.00, Flat)

 

TUESDAY

AM Castle & Co. (CAS, $13.78, up $0.10), AbitibiBowater (ABH, $13.26, down $0.26), Aegerion Pharmaceuticals (AEGR, $12.44, down $0.09), Affiliated Managers (AMG, $114.42, up $0.52), AGCO (AGCO, $47.25, up $0.51), AGL Resources (GAS, $39.25, up $0.35), Alexandria Real Estate Equities (ARE, $74.79, up $0.16), Amdocs (DOX, $32.16, down $0.06), American Assets (AAT, $23.70, up $0.21), American Capital (ACAS, $9.64, up $0.13), AmTrust Financial Services (AFSI, $27.40, up $0.42), Arch Coal (ACI, $9.46, down $0.16), Archer Daniels Midland (ADM, $31.08, up $0.05), Arrow Electronics (ARW, $42.62, up $0.42), Arthur J Gallagher & Co (AJG, $37.59, up $0.18), Aspen Technology (AZPN, $20.08, up $0.33), Astronics (ATRO, $32.54, up $0.91), Atlas Pipeline (APL, $35.00, up $0.02), Atwood Oceanics (ATW, $43.66, down $0.89), Automatic Data Processing (ADP, $55.82, up $0.24), Avon Products (AVP, $21.57, down $0.23), Bankrate (RATE, $23.64, up $0.08), Becton, Dickinson and Company (BDX, $77.98, up $0.66), Big 5 Sporting Goods (BGFV, $8.62, up $0.19), Bio-Rad Laboratories (BIO, $108.97, up $0.77), Biogen Idec (BIIB, $133.16, up $2.36), BioMed Realty (BMR, $19.95, up $0.10), Boston Properties (BXP, $107.83, up $0.37), BRE Properties (BRE, $52.90, up $0.17), Bridgepoint Education (BPI, $21.77, up $0.18), Broadcom (BRCM, $36.47, Flat), Bruker (BRKR, $14.93, up $0.20), Cabot (CBT, $43.72, up $0.21), Caesars Entertainment (CZR, $14.17, up $0.48), Calgon Carbon (CCC, $14.15, up $0.14), Calix (CALX, $8.05, up $0.41), Carbonite (CARB, $7.95, up $0.03), Career Education (CECO, $7.36, up $0.20), Carriage Services (CSV, $7.44, down $0.06), Cavium (CAVM, $28.80, up $0.39), CBOE (CBOE, $26.76, up $0.07), CBS (CBS, $34.33, up $0.20), Chemtura (CHMT, $17.37, up $0.09), Chesapeake Energy (CHK, $17.71, up $0.15), Cobalt International Energy (CIE, $27.00, down $0.18), Con-way (CNW, $32.90, up $0.35), Corn Products International (CPO, $58.09, up $0.26), CSG Systems International (CSGS, $14.68, up $0.26), Cummins (CMI, $118.33, up $2.25), Curtiss-Wright (CW, $35.45, Flat), CVR Energy (CVI, $30.40, up $0.18), CVR Partners (UAN, $27.77, up $0.60), Cynosure (CYNO, $21.66, up $0.83), DaVita (DVA, $89.24, up $1.01), DDR (DDR, $14.82, up $0.03), DGSE (DGSE, $7.43, Flat), DigitalGlobe (DGI, $12.32, up $0.01), DineEquity (DIN, $48.49, down $0.12), Domino’s Pizza (DPZ, $37.14, up $0.63),  Dorman Products (DORM, $49.31, up $1.65), Douglas Emmett (DEI, $23.38, down $0.07), DST Systems (DST, $56.00, up $0.41), Dynamic Materials (BOOM, $18.43, up $0.13), Ecolab (ECL, $63.82, up $0.85), Emerson Electric (EMR, $52.68, up $0.80), Enbridge Energy Partners (EEP, $30.83, down $0.04), Endo Pharmaceuticals (ENDP, $35.83, down $0.22), Entertainment Properties (EPR, $48.11, up $0.29), Exact Sciences (EXAS, $11.03, up $0.15), Exactech (EXAC, $16.00, down $0.03), EXCO Resources (XCO, $7.02, up $0.18), FEI (FEIC, $50.23, up $0.67), FelCor Lodging (FCH, $4.21, down $0.03), Fiserv (FISV, $70.67, up $0.60), Flextronics International (FLEX, $6.72, down $0.02), FormFactor (FORM, $5.54, up $0.01), Foster Wheeler (FWLT, $23.19, up $0.61), Franklin Street Properties (FSP, $10.06, up $0.06), Fresh Del Monte (FDP, $23.21, up $0.17), G&K Services (GKSR, $33.33, up $0.08), General Growth Properties (GGP, $18.05, up $0.37), Genesee & Wyoming (GWR, $55.01, up $0.45), Genworth Financial (GNW, $5.98, up $0.03), Gevo (GEVO, $9.82, up $0.07), Government Properties Income (GOV, $23.44, up $0.13), Great Lakes Dredge & Dock (GLDD, $7.58, up $0.13), Harris (HRS, $45.66, up $0.31), HCC Insurance (HCC, $31.92, up $0.04), HCP (HCP, $41.35, down $0.01), Healthcare Realty (HR, $21.52, up $0.12), Heartland Payment Systems (HPY, $30.90, up $0.40), Heartware International (HTWR, $78.35, up $0.83), Hersha Hospitality (HT, $5.75, Flat), Higher One Holdings (ONE, $15.61, down $0.20), Highwoods Properties (HIW, $34.62, down $0.06), Hospira (HSP, $35.43, up $0.31), Huntsman (HUN, $14.35, up $0.07), Idenix Pharmaceuticals (IDIX, $8.55, up $0.14), Impax Laboratories (IPXL, $25.31, up $0.60), Innophos Holdings (IPHS, $49.44, up $0.35), Intermec (IN, $5.35, up $0.19), IPG Photonics (IPGP, $49.02, up $1.27), Ironwood Pharmaceuticals (IRWD, $13.09, up $0.10), Jack Henry & Associates (JKHY, $34.34, up $0.18), John B Sanfilippo & Son (JBSS, $13.83, down $0.21), Jones Lang LaSalle (JLL, $81.30, down $0.20), Kenexa (KNXA, $32.59, down $0.55), Key Tronic (KTCC, $11.55, up $0.51), Keynote Systems (KEYN, $18.27, up $0.11), The KEYW Holding (KEYW, $9.30, up $0.25), Kforce (KFRC, $14.95, up $0.21), Kindred Healthcare (KND, $9.60, up $0.09), Kulicke & Soffa (KLIC, $13.24, up $0.38), LB Foster (FSTR, $28.33, up $0.99), Legg Mason (LM, $26.24, up $0.13), Marathon Petroleum (MPC, $41.31, up $0.66), Marlin Business Services (MRLN, $14.41, up $0.03), Marsh & McLennan (MMC, $33.21, down $0.05), Martin Marietta Materials (MLM, $83.61, up $0.86), MDU Resources (MDU, $22.90, up $0.10), Medidata Solutions (MDSO, $25.34, up $0.08), Mediware Information Systems (MEDW, $14.83, up $0.20), Monotype Imaging Holdings (TYPE, $14.29, up $0.29), Motorola (MMI, $38.70, up $0.27), Myriad Genetics (MYGN, $26.71, up $0.53), National Research (NRCI, $48.95, up $0.76), NiSource (NI, $24.49, up $0.04),  Nutrisystem (NTRI, $11.65, up $0.34), OCZ Technology (OCZ, $5.95, down $0.02), Old Line Bancshares (OLBK, $10.98, down $0.02), ONEOK (OKE, $85.55, up $0.59), OpenTable (OPEN, $44.82, up $0.67), Overseas Shipholding (OSG, $11.88, up $0.26), PH Glatfelter (GLT, $15.75, up $0.12), Papa John’s International (PZZA, $40.17, down $0.03), Park Electrochemical (PKE, $29.63, up $0.53), Peet’s Coffee & Tea (PEET, $76.35, up $1.66), Pericom Semiconductor (PSEM, $8.15, up $0.16), P.F. Chang’s China Bistro (PFCB, $40.79, down $0.15), Pfizer (PFE, $23.08, down $0.02), PHH  (PHH, $15.69, up $0.01), Pinnacle Entertainment (PNK, $11.30, up $0.13), POZEN (POZN, $6.24, down $1.49), Primerica  (PRI, $26.72, up $0.18), Radware (RDWR, $38.59, up $0.09), ReachLocal (RLOC, $7.88, up $0.01), Regal Beloit (RBC, $68.02, up $1.23), REGAL ENTERTAINMENT (RGC, $13.50, up $0.09), Resource Capital (RSO, $5.37, up $0.03), Rex Energy (REXX, $10.14, down $0.01), RPX (RPXC, $17.34, up $0.29), Saba Software (SABA, $9.85, up $0.05), Saul Centers (BFS, $40.45, up $0.45), Sevcon  (SEV, $7.00, down $0.20), Solar Capital (SLRC, $20.90, up $0.17), Solar Senior Capital (SUNS, $16.19, down $0.03), Spirit Airlines (SAVE, $23.86, up $0.23), Standard Motor Products (SMP, $15.22, up $0.05), Standex International (SXI, $43.80, up $0.13), Stoneridge (SRI, $8.95, up $0.14), Strategic Hotels & Resorts (BEE, $6.93, up $0.18),  Sturm, Ruger & Co (RGR, $55.11, up $0.48), SunCoke Energy (SXC, $14.99, up $0.19), Sunrise Senior Living (SRZ, $6.40, down $0.04), Systemax (SYX, $17.65, up $0.18), Team Health Holdings (TMH, $21.91, up $0.08), Techne (TECH, $67.90, up $0.65), TECO Energy (TE, $17.94, up $0.06), Teleflex (TFX, $63.13, up $0.36), Thoratec (THOR, $35.23, up $0.47), TNS (TNS, $20.99, up $0.13), Tree.Com (TREE, $7.93, Flat), TripAdvisor (TRIP, $36.87, up $2.49), True Religion Apparel (TRLG, $27.16, down $0.50), TRW Automotive Holdings (TRW, $47.15, up $2.51), TTM Technologies (TTMI, $10.90, up $0.25), Ubiquiti Networks (UBNT, $33.75, up $1.01), Unit (UNT, $42.18, down $0.21), United Community Bancorp (UCBA, $5.85, up $0.28), Universal Technical Institute (UTI, $12.20, up $0.04), Unum Group (UNM, $23.91, up $0.16), US Ecology (ECOL, $21.56, up $0.25), Valero Energy (VLO, $25.12, up $0.55), Venoco (VQ, $11.10, up $0.05), Verisk Analytics (VRSK, $49.43, up $0.20), ViroPharma (VPHM, $22.03, up $0.28), Virtus Investment Partners (VRTS, $86.36, up $1.36), Vocus (VOCS, $13.16, down $0.08), Wabash National (WNC, $8.86, up $0.37), Watts Water Technologies (WTS, $37.66, up $0.94), Web.com (WWWW, $13.71, up $0.60), WebMD Health (WBMD, $22.75, up $0.31), Westlake Chemical
(WLK, $65.27, up $1.38), Wisconsin Energy (WEC, $36.60, up $0.23), World Fuel Services (INT, $44.32, up $0.25), Wright Medical (WMGI, $18.78, up $0.27), YRC Worldwide (YRCW, $6.51, up $0.06)

 

WEDNESDAY

Acme Packet (APKT, $28.87, up $0.32), Advisory Board (ABCO, $91.48, up $2.91), Albany International (AIN, $24.70, up $0.82), Allergan (AGN, $96.61, up $0.23), ALLETE (ALE, $41.35, up $0.22), AllianceBernstein (AB, $14.14, down $0.18), Allied World Assurance (AWH, $72.34, up $0.50), The Allstate Corporation (ALL, $33.58, down $0.34), American Capital Agency (AGNC, $31.01, up $0.11), American Equity Investment Life Holding (AEL, $12.44, up $0.06), American Safety Insurance (ASI, $19.06, down $0.02), American Water Works (AWK, $34.54, up $0.28), AMERIGROUP (AGP, $63.16, down $1.22), Ameristar Casinos (ASCA, $18.30, down $0.07), ArthroCare (ARTC, $25.27, up $0.41), Atlantic Tele-Network (ATNI, $34.98, up $0.56), Atmel (ATML, $8.78, down $0.15), Atmos Energy (ATO, $32.40, up $0.11), Avista (AVA, $26.44, up $0.07), Balchem (BCPC, $28.90, up $1.12), Brookdale Senior Living (BKD, $19.30, up $0.27), CACI International (CACI, $61.68, down $0.28), Callidus Software (CALD, $7.74, up $0.04), Calumet Specialty Products Partners (CLMT, $27.01, UP $0.47), Capital Senior Living (CSU, $9.69, UP $0.06), Cardiovascular Systems (CSII, $10.07, UP $0.10), Cbeyond (CBEY, $6.68, UP $0.01), CEVA (CEVA, $21.46, UP $0.33), Charles River Laboratories (CRL, $35.42, down $0.13), Charm Communications (CHRM, $10.19, down $0.19), Cheniere Energy (LNG, $18.74, up $0.45), Chesapeake Utilities (CPK, $42.46, up $0.25), Clean Harbors (CLH, $68.48, up $1.57), Cleco (CNL, $40.78, up $0.27), ClickSoftware Technologies (CKSW, $10.85, up $0.24), Clorox (CLX, $69.84, down $0.20), Colony Financial (CLNY, $17.02, up $0.22), Comcast (CMCSA, $30.28, up $0.04), Comfort Systems (FIX, $10.85, up $0.36), comScore (SCOR, $19.93, up $0.37), Concho Resources (CXO, $108.20, up $1.09), Concur Technologies (CNQR, $57.09, up $0.41), Continental Resources (CLR, $89.06, down $0.73), Cooper Industries (CBE, $63.34, up $0.93), Cooper Tire & Rubber (CTB, $15.41, up $0.14), Corporate Executive Board (EXBD, $41.94, up $0.55), Corrections Corporation of America (CXW, $29.05, up $0.10), Covance (CVD, $46.07, up $0.32), Credit Acceptance (CACC, $95.95, up $0.33), CVS Caremark (CVS, $44.89, up $0.31), Dawson Geophysical (DWSN, $26.16, down $0.21), Delek US Holdings (DK, $16.37, up $0.55), Devon Energy (DVN, $69.71, up $0.66), DexCom (DXCM, $9.97, up $0.12), The Dolan Company (DM, $8.16, up $0.29), DreamWorks Animation (DWA, $17.87, down $0.09), DXP Enterprises (DXPE, $43.97, up $1.03), Dynex Capital (DX, $9.41, down $0.06), Eagle Rock Energy Partners (EROC, $9.42, up $0.15), Edison International (EIX, $43.83, up $0.18), Education Management (EDMC, $12.89, up $0.89), El Paso Electric (EE, $30.59, up $0.14), Ellie Mae (ELLI, $12.98, down $0.19), Endeavour International (END, $12.48, up $0.25), Endurance Specialty (ENH, $39.56, down $0.43), Energizer Holdings (ENR, $71.72, up $0.04), Energy XXI (EXXI, $37.11, up $0.07), The Ensign Group (ENSG, $26.89, up $0.26), Enterprise Products (EPD, $51.34, down $0.06), Equity One (EQY, $20.83, Flat), Essex Property Trust (ESS, $159.02, up $0.50), Excel Trust (EXL, $12.22, up $0.19), Exlservice Holdings (EXLS, $27.90, up $0.24), Expeditors International of Washington (EXPD, $39.90, down $0.43), FARO Technologies (FARO, $56.39, up $1.60), FedFirst Financial (FFCO, $13.90, up $0.10), First Citizens Bancshares (FCNCA, $175.00, up $1.17), First Pactrust Bancorp (BANC, $11.15, down $0.14),  Franklin Electric (FELE, $51.70, up $1.07), Franklin Resources (BEN, $125.98, up $0.35), Garmin (GRMN, $46.81, down $0.47), Genomic Health (GHDX, $28.73, up $0.49), Genpact (G, $16.62, up $0.20), Georgia Gulf (GGC, $35.82, up $0.67), Green Mountain Coffee Roasters (GMCR, $47.90, down $0.85), Gulfmark Offshore (GLF, $47.24, down $0.40), Hanger Orthopedic (HGR, $23.26, up $0.76), Harleysville Group (HGIC, $59.90, up $0.02), Harsco (HSC, $22.76, up $0.47), Haverty Furniture Companies (HVT, $12.94, down $0.55), Hertz Global Holdings (HTZ, $15.80, up $0.44), HSN (HSNI, $39.11, up $0.65), IAC/InterActiveCorp (IACI, $49.06, up $2.29), ICF International (ICFI, $25.43, up $0.34), Image Sensing Systems (ISNS, $7.16, up $0.48), Insight Enterprises (NSIT, $20.60, up $0.22), Integrys Energy (TEG, $54.46, up $0.24), IntercontinentalExchange (ICE, $132.79, up $1.79), Intrepid Potash (IPI, $25.02, up $0.26), ION Geophysical (IO, $6.21, up $0.09), IRIS International (IRIS, $13.26, up $0.06), JDS Uniphase (JDSU, $12.51, up $0.29), John Bean Technologies (JBT, $16.36, up $0.44), KapStone Paper and Packaging (KS, $18.42, up $0.61), Kimco Realty (KIM, $19.36, up $0.01), Legacy Reserves (LGCY, $28.32, down $0.18), LeMaitre Vascular (LMAT, $5.40, down $0.03), LHC Group (LHCG, $18.50, up $0.43), Ligand Pharmaceuticals (LGND, $13.89, down $0.03), Lincoln National (LNC, $24.66, up $0.02), Lydall (LDL, $11.06, up $0.23), Macerich (MAC, $61.92, down $0.32), Magellan Midstream (MMP, $70.99, up $0.29), Maiden Holdings (MHLD, $8.27, up $0.15), Marathon Oil (MRO, $29.72, down $0.18), Martin Midstream Partners (MMLP, $34.22, down $0.07), Masimo (MASI, $22.47, up $0.25), Mastercard (MA, $458.03, up $4.05), MedAssets (MDAS, $12.99, up $0.02), Meritor, (MTOR, $6.89, up $0.11), Mitek Systems (MITK, $6.06, down $0.17), MOD-PAC (MPAC, $7.014, up $0.02), MSCI (MSCI, $36.83, up $0.02), Murphy Oil (MUR, $54.48, down $0.14), Nacco Industries (NC, $112.62, down $0.60), National Interstate (NATL, $24.35, up $0.13), Nektar Therapeutics (NKTR, $7.78, up $0.05), Neurocrine Biosciences (NBIX, $7.64, up $0.06), New York Mortgage Trust (NYMT, $6.85, up $0.03), Newport (NEWP, $17.00, down $0.13), NewStar Financial (NEWS, $11.65, up $0.20), Nova Measuring Instruments (NVMI, $8.53, up $0.13), Numerex (NMRX, $9.68, down $0.01), NVE (NVEC, $49.37, up $0.35), Oasis Petroleum (OAS, $33.62, up $0.16), Omega Protein (OME, $7.26, Flat), Omnicell (OMCL, $14.47, up $0.50), ON Semiconductor (ONNN, $8.33, up $0.03), Onyx Pharmaceuticals (ONXX, $46.76, down $0.26), OraSure Technologies (OSUR, $11.45, up $0.09), PennantPark Investment (PNNT, $10.51, up $0.11), PG&E (PCG, $43.92, up 0.27), PharMerica (PMC, $11.87, down $0.11), Pioneer Natural Resources (PXD, $115.60, down $0.04), Pioneer Southwest Energy (PSE, $28.12, up $0.22), Plains Exploration & Production (PXP, $40.09, down $0.80), Polypore International (PPO, $37.66, up $0.11), Prudential Financial (PRU, $61.43, up 0.12), Public Service Enterprise (PEG, $31.21, up $0.26), R.R. Donnelley & Sons (RRD, $12.85, up $0.24), RCM Technologies (RCMT, $5.38, down $0.17), RealNetworks (RNWK, $9.80, up $0.15), Red Lion Hotels (RLH, $8.38, up $0.03), Regency Centers (REG, $44.95, up $0.38), Regional Management (RM, $16.18, up $0.36), RenaissanceRe Holdings (RNR, $77.39, up $0.39), Rowan Companies (RDC, $34.69, up $0.09), Sauer-Danfoss (SHS, $45.31, up $1.18), Schweitzer-Mauduit (SWM, $68.52, up $0.44), SEI Investments (SEIC, $20.28, down $0.01), Sinclair Broadcast (SBGI, $10.40, up $0.37), Skilled Healthcare (SKH, $7.82, up $0.24), Skullcandy (SKUL, $15.67, up $0.27), SkyWest (SKYW, $8.92, up $0.15), SM Energy (SM, $65.62, down $0.58), Sovran Self Storage (SSS, $53.06, up $0.94), Speedway Motorsports (TRK, $17.17, up $0.18), SPX (SPW, $78.01, up $2.14), STAAR Surgical (STAA, $11.18, up $0.31), Sunoco (SUN, $40.92, up $0.29), Sunoco Logistics (SXL, $40.96, up $0.64), Sunstone Hotel Investors (SHO, $10.20, up $0.10), SureWest Communications (SURW, $22.60, Flat), Symantec (SYMC, $16.48, up $0.01), Tesoro (TSO, $23.57, up $0.09), TESSCO Technologies (TESS, $17.95, down $6.53), Tetra Tech (TTEK, $27.44, up $0.56), Textainer Group (TGH, $34.93, up $1.23), TFS Financial  (TFSL, $9.97, up $0.20), The Hartford Financial Services (HIG, $20.78, Flat), Time Warner (TWX, $38.09, up $0.21), Triple-S Management (GTS, $21.41, down $0.03), Triumph (TGI, $64.46, up $1.71), TW Telecom (TWTC, $22.00, up $0.08), Two Harbors Investment (TWO, $10.49, up $0.06), United-Guardian (UG, $18.57, Flat), ValueClick, (VCLK, $21.49, up $0.3

9), Vanguard Natural Resources (VNR, $28.79, up $0.09), Vectren (VVC, $29.39, up $0.34), Visa (V, $123.61, up $0.42), Vishay Intertechnology (VSH, $11.14, up $0.08), Visteon Corp. (VC, $51.47, up $0.97), Volcano Corporation (VOLC, $27.23, down $0.07), WellCare Health Plans (WCG, $61.29, down $3.95), Walter Energy (WLT,$66.98, down $0.20), Weight Watchers (WTW, $76.61, up $1.56), Western Gas Partners (WES, $46.47, up $0.09), WGL Holdings (WGL, $39.60, up $0.22), Whole Foods Market (WFM, $83.49, down $0.59), Wright Express (WXS, $65.15, up $0.51), Yelp, (YELP, $21.91, up $0.71), Youku (YOKU, $23.01, down $0.20), Zillow, (Z, $35.13, up $2.39)

 

THURSDAY

Accelrys (ACCL, $8.24, up $0.06), Aceto (ACET, $9.02, down $0.06), ACI Worldwide, (ACIW, $40.00, up $0.46), Acorda Therapeutics (ACOR, $25.29, up $0.20), The Active Network, (ACTV, $16.97, up $0.01), Actuate (BIRT, $7.07, up $0.02), AECOM Technology (ACM, $22.51, up $0.56), Air Methods (AIRM, $86.06, down $0.84), Aircastle (AYR, $12.24, up $0.01), Airgas (ARG, $91.62, up $1.05), Alliant Techsystems (ATK, $53.47, up $0.97), Alnylam Pharmaceuticals, (ALNY, $11.67, up $0.04), Alon USA Energy, (ALJ, $9.25, up $0.26), Alpha Natural Resources, (ANR, $15.88, down $0.63), American International (AIG, $34.46, up $0.75), American Tower (AMT, $65.14, up $0.28), AMN Healthcare (AHS, $6.84, up $0.40), Anika Therapeutics (ANIK, $16.88, up $0.62), Ansys, (ANSS, $67.33, up $0.33), Apache (APA, $95.00, up $0.21), Apartment Investment & Management (AIV, $27.16, down $0.02), Apollo Commercial Real Estate Finance, (ARI, $15.98, up $0.03), Approach Resources, (AREX, $36.12, down $0.96), Aqua America (WTR, $22.57, up $0.19), Arabian American Development (ARSD, $9.74, down $0.21), ArQule (ARQL, $7.27, up $0.06), Atlas Air Worldwide Holdings (AAWW, $45.47, up $0.47), AtriCure, (ATRC, $8.50, Flat), AVEO Pharmaceuticals, (AVEO, $11.25, down $0.04), Baldwin & Lyons (BWINB, $22.55, up $0.53), Beam, (BEAM, $56.94, up $0.04), Bebe Stores (BEBE, $8.51, down $0.06), BGC Partners, (BGCP, $6.98, up $0.02), Bill Barrett (BBG, $23.68, up $0.68), Black Hills (BKH, $33.12, down $0.06), Blackbaud (BLKB, $31.67, up $0.15), BlackRock Kelso Capital (BKCC, $9.67, up $0.05), Body Central (BODY, $30.69, up $1.71), BofI Holding (BOFI, $17.90, up $0.11), Boingo Wireless, (WIFI, $10.39, up $0.35), Boise (BZ, $7.72, up $0.12), Cablevision Systems (CVC, $14.57, up $0.08), Cambrex (CBM, $6.67, down $0.14), Cardinal Health, (CAH, $42.32, up $0.41), CareFusion (CFN, $25.94, down $0.04), Caribou Coffee (CBOU, $16.67, up $0.02), Catalyst Health Solutions, (CHSI, $87.07, down $0.14), CEC Entertainment (CEC, $38.74, up $0.22), Cedar Fair, (FUN, $30.78, down $0.01), CenterPoint (CNP, $20.06, up $0.21), CF Industries Holdings (CF, $197.77, up $4.78), Checkpoint Systems (CKP, $11.19, up $0.22), Cigna (CI, $46.90, down $0.66), Cimarex Energy (XEC, $69.15, up $1.40), CIRCOR International, (CIR, $31.82, up $0.86), Cogent Communications (CCOI, $18.98, UP $0.43), CommonWealth (CWH, $18.74, down $0.11), Consolidated Communications Holdings (CNSL, $19.36, up $0.17), CTC Media, (CTCM, $10.86, down $0.05), CubeSmart (CUBE, $12.47, up $0.12), Cumberland Pharmaceuticals, (CPIX, $7.63, up $0.02), Denbury Resources (DNR, $18.70, down $0.11), Diana Shipping (DSX, $7.98, up $0.10), Digital River (DRIV, $18.91, up $0.42), Dolby Laboratories (DLB, $39.38, down $0.07), Dole Food Company (DOLE, $8.36, down $0.07), Drew Industries (DW, $29.98, up $1.47), Eagle Bancorp Montana, (EBMT, $10.19, up $0.05), Eastern Insurance Holdings, (EIHI, $15.00, up $0.01), Einstein Noah Restaurant Group, (BAGL, $14.59, down $0.01), El Paso (EP, $25.91, up $0.34), El Paso Pipeline Partners, (EPB, $33.98, up $0.26), Elizabeth Arden, (RDEN, $39.48, down $0.11), Emergent BioSolutions, (EBS, $14.48, down $0.04), Emeritus (ESC, $10.05, up $0.23), Encore Bancshares, (EBTX, $20.55, up $0.05), Energy Partners (EPL, $16.63, up $0.09), EnPro Industries, (NPO, $41.92, up $0.50), Ensco (ESV, $54.40, down $0.10), Erie Indemnity (ERIE, $76.98, up $0.40), Exar (EXAR, $8.04, up $0.13), Exterran Holdings, (EXH, $12.94, up $0.35), Exterran Partners, (EXLP, $21.97, up $0.04), FBL Financial Group (FFG, $29.24, down $0.03), First Solar (FSLR, $18.35, up $0.04), Flagstone Reinsurance Holdings (FSR, $7.62, up $0.12), Fluor Corporation (FLR $58.77, up $0.51), FLY Leasing Limited (FLY, $12.02, down $0.12), Fuel Systems Solutions, (FSYS, $24.12, up $1.32), Furiex Pharmaceuticals, (FURX, $14.11, down $0.99), Fushi Copperweld, (FSIN, $6.87, down $0.21), FX Alliance (FX, $16.269, up $0.22), Gartner (IT, $43.49, up $0.20), Geeknet, (GKNT, $14.71, down $0.19), Gen-Probe (GPRO, $68.71, down $0.05), General Motors (GM, $23.50, down $0.22), Gentiva Health Services (GTIV, $8.64, down $0.22), Gibraltar Industries, (ROCK, $13.89, up $0.64), GP Strategies (GPX, $17.02, up $0.23), Great Plains Energy Incorporated (GXP, $20.43, up $0.04), Guidance Software, (GUID, $9.47, up $0.11), H&E Equipment Services (HEES, $19.89, up $0.52), The Hain Celestial Group, (HAIN, $47.76, up $0.47), Harris Teeter Supermarkets, (HTSI, $38.24, up $0.17), HCA Holdings, (HCA, $27.25, down $0.05), Health Net, (HNT, $36.13, down $0.60), Heritage-Crystal Clean, (HCCI, $21.28, up $0.11), Home Properties (HME, $61.20, up $0.35), HopFed Bancorp (HFBC, $8.95, up $0.06), Hornbeck Offshore Services, (HOS, $41.10, up $0.14), Hyatt Hotels Corporation (H, $43.46, up $0.27), ICG Group, (ICGE, $9.59, up $0.25), IdaCorp, (IDA, $40.87, up $0.42), Imperva (IMPV, $36.50, down $0.24), Inergy, (NRGY, $19.10, down $0.41), Inergy Midstream (NRGM, $20.93, up $0.33), Infinity Property and Casualty (IPCC, $53.35, up $0.24), Inland Real Estate (IRC, $8.64, up $0.08), InnerWorkings (INWK, $11.56, down $0.01), Integramed America (INMD, $12.70, down $0.50), International Rectifier (IRF, $21.81, up $0.42), InvenSense, (INVN, $16.11, up $0.05), Investment Technology Group (ITG, $10.32, down $0.01), Iridium Communications (IRDM, $8.73, up $0.18), ISTA Pharmaceuticals (ISTA, $9.07, down $0.01), j2 Global, (JCOM, $25.44, up $0.18), Kensey Nash (KNSY, $28.99, up $0.93), Kimball International, (KBALB, $7.13, up $0.30), Knology, (KNOL, $19.50, down $0.01), Kodiak Oil & Gas (KOG, $8.98, down $0.13), Kraft Foods (KFT, $39.40, up $0.40), Lamar Advertising (LAMR, $31.41, up $0.03), LeapFrog Enterprises (LF, $9.36, up $0.03), Lear (LEA, $42.86, up $0.12), Lender Processing Services, (LPS, $26.49, up $0.42), Level 3 Communications Inc. (LVLT, $22.83, up $0.11), Lexington Realty Trust (LXP, $8.98, down $0.01), Lifetime Brands, (LCUT, $11.89, up $0.02), Lincoln Educational Services (LINC, $7.46, up $0.23), LinkedIn (LNKD, $109.79, up $4.55), Liquidity Services, (LQDT, $55.55, up $1.10), Littelfuse (LFUS, $63.09, up $0.47), Main Street Capital (MAIN, $26.16, down $0.12), Mainsource Financial Group (MSFG, $12.00, up $0.14), ManTech International Corporation (MANT, $32.37, up $0.23), Marriott Vacations Worldwide (VAC, $29.23, up $0.04), MasTec, (MTZ, $17.68, up $0.39), MAXIMUS, (MMS, $44.71, up $1.19), McGrath Rentcorp (MGRC, $29.52, up $0.18), MDC Holdings (MDC, $28.33, up $0.56), MEDNAX, (MD, $69.55, down $0.26), Mettler-Toledo International, (MTD, $179.16, up $0.12), MGM Resorts International (MGM, $13.77, down $0.01), Microchip Technology (MCHP, $35.41, up $0.05), Mid-America Apartment Communities (MAA, $68.40, up $0.39), Momenta Pharmaceuticals (MNTA, $16.10, up $0.29), Move, (MOVE, $8.80, up $0.10), MTS Systems (MTSC, $48.46, up $0.37), Multi-Fineline Electronix (MFLX, $26.94, up $0.33), Multimedia Games (MGAM, $11.45, up $0.11), MWI Veterinary Supply, (MWIV, $94.28, up $1.15), National CineMedia, (NCMI, $14.58, up $0.15), Navigators Group (NAVG, $47.62, up $0.59), Netspend Holdings, (NTSP, $7.67, up $0.02), New Jersey Resources (NJR, $43.09, up $0.07), Nicholas Financial (NICK, $13.46, up $0.28), Northeast Utilities (NU, $36.82, up $0.12), NPS Pharmaceuticals, (NPSP, $7.34, up $0.16), NRG Energy, (NRG, $16.63, down $0.06),  Obagi Medical Products, (OMPI, $12.84, up $0.23), NRG Energy, (NRG, $16.63, down $0.06), OGE Energy (OGE, $53.76, $0.39), Olympic Steel (ZEUS, $21.83, up $0.46), OM Group (OMG, $24.17, up $0.11), OncoGenex Pharmaceuticals, (OGXI, $12.95, up $0.08), Oplink Communications (OPLK, $15.97, up $0.04), Orient-Express Hotels (OEH, $10.90, Flat), Orion Marine Group, (ORN, $7.10, up $0.03), Oxford Resource Partners, (OXF, $9.17, up $0.02), OYO Geospace (OYOG, $115.40, up $9.25), Parkway Properties (PKY, $10.01, down $0.04), PC Connection, (PCCC, $8.31, up $0.21), PDF Solutions (PDFS, $9.23, up $0.08), PDL BioPharma, (PDLI, $6.23, down $0.01), PennyMac Mortgage Investment Trust (PMT, $20.13, up $0.13), Perficient (PRFT, $12.34, Flat), Pied

mont Office Realty Trust (PDM, $17.71, up $0.15), Pinnacle West Capital (PNW, $48.21, up $0.33), PolyOne (POL, $13.98, up $0.24),  Portland General Electric (POR, $25.82, up $0.20), Power Integrations (POWI, $37.95, up $0.20), Progress Energy (PGN, $53.19, up $0.07), Public Storage (PSA, $143.93, up $1.26), Quanta Services, Inc. (PWR, $22.05, up $0.43), RDA Microelectronics, (RDA, $12.39, up $0.08), Resource America, (REXI, $7.00, up $0.15), Retail Opportunity Investments (ROIC, $12.20, up $0.06), Rocky Mountain Chocolate Factory (RMCF, $9.35, down $0.08), Rofin-Sinar Technologies (RSTI, $25.08, up $0.22), Rovi Corporation (ROVI, $29.26, up $0.19), Royal Gold (RGLD, $62.01, up $0.64), RTI International Metals, Inc. (RTI, $24.90, up $0.49), Sally Beauty Holdings (SBH, $26.73, up $0.45), SandRidge Energy, (SD, $7.54, down $0.12), Sapient (SAPE, $12.16, down $12.16), Sara Lee Corp. (SLE, $22.02, up $0.02), SCANA (SCG, $46.15, up $0.30), SciQuest, (SQI, $15.29, up $0.44), Scripps Networks Interactive, (SNI, $50.75, down $0.51), Sealed Air Corporation (SEE, $19.24, up $0.07), Select Medical Holdings (SEM, $8.63, up $0.02), Sempra Energy (SRE, $64.79, up $0.88), Southwestern Energy (SWN, $30.53, up $0.54), Spirit AeroSystems Holdings  (SPR, $25.45, up $0.34), Spreadtrum Communications (SPRD, $14.51, down $0.28), State Auto Financial (STFC, $14.75, up $0.43), Steinway Musical Instruments (LVB, $24.91, down $0.12), Steven Madden (SHOO, $43.19, down $0.89), Suburban Propane (SPH, $42.59, down $0.16), Swift Energy (SFY, $29.34, up $0.61), Symmetry Medical (SMA, $7.20, up $0.10), Targa Resources (NGLS, $42.79, up $0.63), Teradata (TDC, $70.90, up $0.50), Tesco (TESO, $15.32, up $0.30), The Chefs’ Warehouse, (CHEF, $24.93, up $0.02), THL Credit (TCRD, $12.62, up $0.01), TMS International (TMS, $12.45, up $0.04), Tower International, (TOWR, $11.88, up $0.41), Triangle Capital (TCAP, $20.28, up $0.22), Trimble Navigation Limited (TRMB, $55.34, up $1.11), U.S. Global Investors, (GROW, $7.07, down $0.01), US Physical Therapy (USPH, $24.52, up $0.15), UIL Holdings (UIL, $34.30, up $0.01), Ultra Petroleum (UPL, $19.16, up $0.01), Universal Electronics (UEIC, $17.42, up $0.66), USA Mobility, (USMO, $12.81, down $0.02), Viacom, (VIAB, $47.37, down $0.07), VIST Financial (VIST, $11.72, down $0.23), Wesco Aircraft Holdings, (WAIR, $15.59, up $0.21), Western Refining, (WNR, $18.98, up $0.42), Winthrop Realty Trust (FUR, $10.77, down $0.07), World Wrestling Entertainment (WWE, $7.91, up $0.01), WPX Energy, (WPX, $17.21, up $0.35), Xylem (XYL, $28.38, up $0.28), Zagg (ZAGG, $12.29, up $0.30)

 

FRIDAY

AES (AES, $12.46, up $0.04), Alexander’s (ALX, $383.18, up $3.79), Alliant Energy (LNT, $45.18, up $0.40), Ameren (AEE, $32.76, up $0.22), Amerigon (ARGN, $14.57, down $0.27), Aon (AON, $51.65, down $0.16), Arcos Dorados Holdings (ARCO, $17.87, down $0.71), Buckeye Partners (BPL, $56.39, down $0.11), Church & Dwight (CHD, $50.21, down $0.86), Clear Channel Outdoor Holdings (CCO, $7.59, up $0.13), Diamond Hill Investment (DHIL, $77.10, up $0.74), Dresser-Rand (DRC, $48.75, up $0.07), Duke Energy (DUK, $21.43, up $0.06), Elster Group (ELT, $14.79, down $0.18), Estee Lauder (EL, $65.23, up $0.21), Exelis, (XLS, $11.94, up $0.33), Exelon (EXC, $38.91, up $0.32), Federal Signal (FSS, $5.40, up $0.11), Haynes (HAYN, $63.15, up $1.09), Horsehead Holding (ZINC, $11.11, down $0.03), ITT (ITT, $22.55, up $0.23), J. Alexander’s (JAX, $8.51, up $0.09), Johnson Outdoors (JOUT, $19.04, up $0.12), Koppers Holdings (KOP, $39.58, up $0.84), Material Sciences (MASC, $7.86, down $0.31), Mobile Mini (MINI, $19.10, up $0.35), Mohawk Industries (MHK, $68.06, up $1.02), MRC Global (MRC, $19.79, down $0.30), MSB Financial (MSBF, $6.00, Flat), National Fuel Gas (NFG, $46.62, up $0.62), Northwest Natural Gas (NWN, $45.60, up $0.44), Pepco Holdings, (POM, $18.82, down $0.03), PNM Resources, (PNM, $18.99, up $0.15), PPL (PPL, $27.32, down $0.06), Progressive (PGR, $21.53, up $0.14), Shenandoah Telecommunications (SHEN, $11.19, up $0.23), Sirona Dental Systems (SIRO, $50.93, up $0.61), Spectra Energy (SE, $30.55, up $0.06), Spectra Energy Partners (SEP, $32.30, up $0.31), Washington Post Company (WPO, $383.84, up $3.81), Trius Therapeutics, (TSRX, $5.15, down $0.03), Tutor Perini (TPC, $15.58, up $0.20), United States Cellular (USM, $38.80, down $0.18), Warner Chilcott (WCRX, $18.79, up $1.39)

 

= = = = = = = = = = = = = = = 

 

5.  Weekly Wrap Covered Call Portfolio Update (Closing prices as of 4/27/12)

 

Closed Trades for 2012 (19-0, overall):  BAC +26%, EFTC +8%, SZYM +55%, VVUS +38%, CALL +19%, BAC +20%, SYMC +16%, DAR +20%, TIVO +5%, MGM +22%, ZNGA +13%, SGMS +6%, VVUS +17%, F +8%, AA +7%, CLNE +27%, DNDN +18%, MGM +19%, ACAS +3%.   

 

Solazyme (SZYM, $11.29, up $0.05)

June 15 calls (SZYM120616C00015000, $0.20, flat) 

Original Entry Price:  $12.40 (4/17/12)

Lowered Price from Selling Options: $12.00    

Exit Target:  $15+

Return:  -6%

Stop Target:  None 

Action:  Solazyme traded down to $10.43 mid-week but rebounded to close above $11 by Wednesday.  Short-term support is at $10 and the 52-week low is $7.68 should this level fail to hold.  A move back above $12 would be bullish and could lead to $13. 

We recommended buying the stock at $12.40 on 4/17/2012 and for every 100 shares to sell the June 15 calls for 40 cents.  This lowered the cost basis to $10.18. 

If shares are called-away by mid-June at $15 the trade makes 25%. 

 

Bank of America (BAC, $8.25, down $0.02) 

May 9 calls (BAC120519C00009000, $0.07, down $0.02) 

Original Entry Price:  $8.93 (4/17/12)

Lowered Price from Selling Options:  $8.48    

Exit Target:  $15+

Return:  -3%

Stop Target:  None 

Action:  Shares dipped below $8 during Monday’s open but held this level for the rest of the week.  Shares reached a peak of $8.40 on Thursday but gave back a little on Friday.  Short-term support comes in at $7.50 and the $8.50-$9 area represents the next hurdles of resistance. 

We recommended buying the stock at $8.93 on 4/17/2012 and for every 100 shares to sell the May 9 calls for 45 cents.  This lowered the cost basis to $8.48. 

If shares are called-away by mid-May at $9 the trade makes 6%. 

 

Scientific Games (SGMS, $11.02, up $0.03)  

Original Entry Price:  $11.10 (3/20/12)

Lowered Price from Selling Options:  Waiting for shares to reach $12-$13

Exit Target:  $15+

Return:  -1%

Stop Target:  None 

Action:  Shares traded in a tight range all week with the high coming in at $11.90 on Monday while the low of $10.62 was hit on Friday.  Resistance is at the 50-day moving average followed by $12.  Near-term support remains $10.50-$10.  The company’s earnings announcement is late-May and we are expecting them to crush estimates.

We recommended buying the stock at $11.10 on 3/20/2012. 

 

Pandora Media (P, $8.88, up $0.31) 

June 13 calls (P120616C00013000, $0.20, up $0.05) 

Original Entry Price:  $10.58 (3/20/12)

Lowered Price from Selling Options:  $10.18

Exit Target:  $12

Return:  -13%

Stop Target:  None 

Action:  Shares traded up to $8.90 after dipping to $8.03 to start the week.  A move back above $9 would be bullish but a close below $8 will bring the 52-week low of $7.83 made during the prior week back into play.  Spotify is trying to become a threat but it isn’t and Pandora has 100 million registered users.

We recommended buying the stock at $10.58 on 3/20/2012 and for every 100 shares to sell the June 13 calls for 40 cents.  This lowered the cost basis to $10.18. 

If shares are called-away by mid-June at $13 the trade makes 28%. 

 

Bebe Stores (BEBE, $8.51, down $0.06)    

Original Entry Price:  $9.00 (2/22/12)

Lowered Price from Selling Options:  Waiting for shares to reach $10

Exit Target:  $8

Return:  -5%

Stop Target:  None 

Action:  Bebe reports earnings this week.  The company has beaten estimates for 3 straight quarters and we like the turnaround story.  We would like to see a move back above $9 on better-than-expected results.  We mentioned support was strong at $8.20 and then $8 as shares tested the first wave on Tuesday’s dip to $8.22. 

 

We recommended buying the stock at $9.00 on 2/22/2012 

 

Pizza Inn (PZZI, $3.22, down $0.30) 

Original Entry Price:  $4.50 (2/22/12)

Lowered Price from Selling Options:  No options available

Exit Target:  $8

Return:  -28%

Stop Target:  None 

Action:  Shares traded down to $3.18 on Friday and the trend has been lower for 2 weeks now.  We said a test to $3.50 could come on a further pullback and there is now risk down to $3.  Short-term resistance is at $4 and we feel the selling has been overdone.  If you haven’t started a position, shares are at attractive entry levels.    

We recommended buying the stock at $4.50 on 2/22/2012.   

 

Arena Pharmaceuticals (ARNA, $2.62, up $0.47)   

July 3 calls (ARNA120723C00003000, $1.05, up $0.30) 

Original Entry Price:  $1.88 (2/2/12)

Lowered Price from Selling Options:  $1.33

Exit Target:  $3+

Return:  90%

Stop Target:  None 

Action:  Shares were able to hold $2 all week and surged on Friday after reports surfaced that Arena’s diet drug, Lorcaserin, is far safer than Vivus’ obesity drug, Qnexa, which is trying to gain approval as well.  Of course, we already told you that and we have made our subscribers some nice profits in Vivus.  Now it’s time to play Arena. 

The pie is big enough for both companies to market their diet drugs which will make billions.  Arena is looking to gain pre-approval from AdComm on May 10 and the green light by the FDA in late June.  

This chart shows the breakout potential:

We recommended buying the stock at $1.88 on 2/2/2012 and for every 100 shares to sell the July 3 calls for 50 cents.  This lowered the cost basis to $1.33. 

If shares are called-away by mid-July at $3 the trade makes 117%. 

 

MGM Resorts (MGM, $13.77, down $0.01) 

Original Entry Price:  $13.77 (2/2/12)

Lowered Price from Selling Options:  $12.67

Exit Target:  $15

Return:  9%

Stop Target:  None 

Action:  MGM announces earning on Thursday.  Shares traded to a high of $13.89 on Friday after dipping below $13 on Tuesday which has been strong support.  We are looking for the company to report a good quarter, but if they miss or lower guidance, shares could test $12 and the 200-day MA.  A better-than-expected earnings report in could get shares back pushing $15 and where we will look to sell another option.  We love MGM for the possible approval of online poker over the next few months and have a $20 target on the stock.

We recommended buying the stock at $13.77 on 2/2/2012 and for every 100 shares to sell the March 15 calls for 45 cents.  This lowered the cost basis to $13.32. 

On 3/20/12 we recommended selling the April 14 calls for $0.65 which lowered the cost basis to $12.67. 

 

Patriot Coal (PCX, $5.90, down $0.22) 

Original Entry Price:  $8.91 (1/12/12)

Lowered Price from Selling Options:  $8.31

Exit Target:  $15

Return:  -29%

Stop Target:  None 

Action:  Shares dipped to a low of $5.84 to start the week and $6 is still trying to hold as short-term support.  A close below $6 would bring $5.50 into play. 

We recommended buying the stock at $8.91 on 1/12/2012 and for every 100 shares to sell the February 10 calls for 40 cents.  This lowered the cost basis to $8.51. 

On 2/29/12 we recommended selling the April 9 calls for $0.20 which lowered the cost basis to $8.31. 

 

Alcoa (AA, $9.74, down $0.13) 

Original Entry Price:  $9.65 (1/12/12)

Lowered Price from Selling Options and Dividends:  $9.17

Exit Target:  $11

Return:  6%

Stop Target:  None  

Action:  Shares made a run at $10 on Friday but finished the session lower.  The May 10 calls are at 20 cents so we may sell them this week as the stock seems to be struggling at resistance.  A break below $9.40 would be bearish but we won’t don’t mind holding Alcoa for a few more months if that’s the case. 

We recommended buying the stock again at $9.65 on 1/12/12. 

On 1/23/12 we recommended selling the March 11 calls for $0.25 which lowered the cost basis to $9.40. 

On 2/1/12 the company paid a 3 cent dividend which lowered our cost basis to $9.37. 

On 3/20/12 we recommended selling the April 11 calls for $0.20 which lowered the cost basis to $9.17. 

 

Newpark Resources (NR, $6.55, down $0.81) 

Original Entry Price:  $9.45 (7/27/11)

Lowered Price from Selling Options: $7.85

Exit Target: $10+

Return:  -17%

Stop Target: None 

Action:  Newpark missed on estimates and missed on revenues when they reported earnings last week.  We said a test down to $6.50-$6 could come on further weakness.  We would like to see a move back above $7.50 before writing another option against the position.

We recommended buying the stock at $9.45 on 7/27/11 and for every 100 shares to sell the August 10 calls for 50 cents.  This lowered the cost basis to $8.95. 

On 9/15/11 we recommended selling the December 10 call option for $0.85 which lowered the cost basis to $8.10. 

On 1/25/2012 we recommended selling the March 12.50 call at 25 cents which lowered our cost to $7.85.  

 

Trades on HOLD:  Rambus (RMBS, $4.77, down $0.02), Rare Element Resources (REE, $5.31, down $0.04), AKS Steel Holding (AKS, $7.26, up $0.05), DryShips (DRYS, $3.22, down $0.04), OCZ Technology Group (OCZ, $5.95, down $0.02)

 

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 6.  Week Ahead 

Monday kicks the week off with Personal Income and Personal Spending an hour before the bell, followed by Chicago PMI 15 minutes after the open. 

For Tuesday, Wall Street will get updates on Construction Spending and the ISM Index at 10am (EST).  In the afternoon at 2pm, Auto and Truck Sales will be released. 

Wednesday’s action brings the MBA Mortgage Index figures at 7am and the ADP Employment Change report is due out at 8:15am.  Factory Orders and crude inventories numbers will be out shortly after the open. 

Thursday is a heavy day as the Challenger Jobs Cuts will set the tone and come out at 7:30am followed by Initial and Continuing Claims an hour later.  Productivity and Unit Labor Costs will also be announced.  At 10am, the ISM Services report is due out.     

For Friday, all eyes will be on the Nonfarm Payrolls number which will be released an hour before the opening bell.  The Unemployment Rate, Average Workweek, and Hourly Earnings will also be included.